Allred Capital Management LLC Grows Holdings in The Allstate Co. (NYSE:ALL)

by · The Cerbat Gem

Allred Capital Management LLC boosted its stake in shares of The Allstate Co. (NYSE:ALL – Free Report) by 0.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,275 shares of the insurance provider’s stock after purchasing an additional 93 shares during the period. Allred Capital Management LLC’s holdings in Allstate were worth $1,981,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. VSM Wealth Advisory LLC purchased a new position in shares of Allstate during the fourth quarter valued at $25,000. Twin Tree Management LP purchased a new position in Allstate in the fourth quarter worth $27,000. Vision Financial Markets LLC acquired a new stake in Allstate in the fourth quarter worth about $29,000. Hopwood Financial Services Inc. acquired a new position in Allstate during the 4th quarter valued at approximately $29,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Allstate during the 4th quarter worth about $40,000. 76.47% of the stock is currently owned by institutional investors.

Allstate Stock Up 0.2 %

NYSE ALL opened at $194.61 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 0.42. The business’s fifty day simple moving average is $197.17 and its 200-day simple moving average is $194.31. The Allstate Co. has a 52 week low of $156.66 and a 52 week high of $212.91. The firm has a market cap of $51.58 billion, a PE ratio of 11.45, a P/E/G ratio of 1.01 and a beta of 0.36.

Allstate (NYSE:ALL – Get Free Report) last announced its earnings results on Wednesday, February 5th. The insurance provider reported $7.67 earnings per share for the quarter, topping the consensus estimate of $5.40 by $2.27. Allstate had a net margin of 7.28% and a return on equity of 28.20%. As a group, equities analysts anticipate that The Allstate Co. will post 18.74 earnings per share for the current year.

Allstate declared that its Board of Directors has approved a share buyback program on Wednesday, February 26th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the insurance provider to purchase up to 3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Allstate Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid a $1.00 dividend. This is a positive change from Allstate’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Monday, March 10th. This represents a $4.00 annualized dividend and a dividend yield of 2.06%. Allstate’s dividend payout ratio (DPR) is presently 23.54%.

Insider Buying and Selling

In related news, CFO Jesse E. Merten sold 40,102 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $186.53, for a total transaction of $7,480,226.06. Following the completion of the transaction, the chief financial officer now directly owns 18,115 shares of the company’s stock, valued at $3,378,990.95. The trade was a 68.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ALL has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on shares of Allstate from $186.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. Evercore ISI raised shares of Allstate from an “in-line” rating to an “outperform” rating in a report on Wednesday, January 8th. Argus upgraded shares of Allstate from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. StockNews.com upgraded Allstate from a “hold” rating to a “buy” rating in a research note on Tuesday, April 8th. Finally, Barclays lowered their price target on Allstate from $183.00 to $172.00 and set an “underweight” rating on the stock in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Allstate currently has an average rating of “Moderate Buy” and a consensus price target of $219.27.

Get Our Latest Stock Report on ALL

Allstate Company Profile

(Free Report)

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.

Featured Stories

Want to see what other hedge funds are holding ALL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Allstate Co. (NYSE:ALL – Free Report).